Taguig city: The Philippine government is committed to implementing reforms to support the transition to a green economy, Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said Thursday. "The Marcos Jr. administration recognizes that a green economy is not a burden on growth. It is a new engine for it," Roque said during the launch of the Asian Development Bank's (ADB) report "Advancing the Green Economy Transition in ASEAN" at the Ascott Bonifacio Global City Manila in Taguig City.

According to Philippines News Agency, the ADB defines a green economy as low-carbon, resource-efficient, and socially inclusive. It is driven by investments that reduce emissions and pollution, improve energy and resource efficiency, and prevent biodiversity loss. The Philippines earlier pledged to cut greenhouse gas emissions by 75 percent by 2030 and targets a 35-percent renewable energy share by 2030 and 50 percent by 2040.

Roque stated that the Philippine Green Jobs Act encourages businesses to prioritize green employment. "In the Philippines, we believe that sustainability and competitiveness are two sides of the same coin," she said. As chair of the ASEAN Task Force on Carbon Neutrality and the Coordinating Task Force on Blue Economy, Roque said the Philippines is pushing for stronger regional cooperation to advance the green transition.

"By embracing this transition, ASEAN positions itself as a global hub for sustainable manufacturing, green technology innovation, and resilient energy security," she said. The report indicated that the shift to a green economy could bring major benefits to the Association of Southeast Asian Nations, including job creation, stronger competitiveness, and greater innovation. By 2030, it estimates the green economy could generate up to USD1 trillion annually from sectors such as renewable energy, sustainable agriculture, and green infrastructure.